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MADRID: Spanish airline Air Comet said on Tuesday it had suspended all its flights because of financial difficulties that are preventing it from paying its debts, ruining travel plans for thousands of passengers.
Air Comet, which specialises in flights to Latin America, attributed its problems to a decision on Friday by a commercial court in London that enabled Nord Bank of Germany to undertake a foreclosure procedure against the airline.
Spanish press reports said the airline owed the bank around 14 million euros (20 million dollars).
The airline said the court decision meant that the carrier was unable to operate its aircraft. Press reports had said the ruling affected the carrier's fleet of 13 planes.
The decision has also forced the airline to prepare staff lay-offs and to declare itself unable to meet its financial obligations, the company said.
The Stavla union, representing in-flight personnel, said Air Commet employs nearly 700 people and carries 1,500 passengers a day on flights from Madrid to Bogata, Buenos Aires, Havana, Lima, Quito and Guayaquil in South America.
- AFP/so
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